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Market bounces back in week gone by as FIIs turn buyers after long hiatus

Other supporting factors include positive global stocks, softening crude oil prices, better earnings, and strong rain. However, depreciation of rupee remains a concern.

July 23, 2022 / 08:09 AM IST
Indian market bounced back strongly in the week ended July 22 supported by positive global markets, continues FIIs buying after a long time, softening of crude oil prices, better June quarter earnings by India Inc and strong rainfall. However, depreciation in rupee remains a concern.
Indian market bounced back strongly in the week ended July 22 supported by positive global stocks, foreign institutional investors (FIIs) turning buyers after a long time, softening of crude oil prices, better June quarter earnings by India Inc, and strong rainfall. However, rupee depreciation remains a concern.
For the week, BSE Sensex rose 2311.45 points (4.29 percent) to end at 56,072.23, while the Nifty50 added 670.3 points (4.17 percent) to close at 16,719.5 levels. In the month till now, both the main indices rose close to 6 percent.
For the week, BSE Sensex rose 2,311.45 points (4.29 percent) to end at 56,072.23 while the Nifty50 added 670.3 points (4.17 percent) to close at 16,719.5. In the month till now, both the main indices rose close to six percent.
The BSE Large-cap Index added 4 percent led by the IndusInd Bank, Vedanta, Larsen & Toubro Infotech, Bank Of Baroda, UltraTech Cement, Piramal Enterprises and Axis Bank.
The BSE Large-cap Index added four percent led by IndusInd Bank, Vedanta, Larsen & Toubro Infotech, Bank Of Baroda, UltraTech Cement, Piramal Enterprises, and Axis Bank.
The BSE Small-cap index gained 4 percent with PTC Industries, Navkar Corporation, Sandur Manganese, Quick Heal Technologies, Brightcom Group, Igarashi Motors, Aegis Logistics, Omaxe, Lasa Supergenerics, Urja Global, Repco Home Finance, Anjani Portland Cement, Syncom Formulations, AGI Greenpac, Anant Raj, Happiest Minds Technologies and Puravankara gaining between 20-32 percent.
The BSE Small-cap index gained four percent with the following gaining between 20 and 32 percent: PTC Industries, Navkar Corporation, Sandur Manganese, Quick Heal Technologies, Brightcom Group, Igarashi Motors, Aegis Logistics, Omaxe, Lasa Supergenerics, Urja Global, Repco Home Finance, Anjani Portland Cement, Syncom Formulations, AGI Greenpac, Anant Raj, Happiest Minds Technologies, and Puravankara.
BSE Mid-cap Index rose 3.5 percent with Shriram Transport Finance Corporation, Aditya Birla Capital, RBL Bank, Clean Science & Technology, Canara Bank and Honeywell Automation rising over 10 percent each.
BSE Mid-cap Index rose 3.5 percent with Shriram Transport Finance Corporation, Aditya Birla Capital, RBL Bank, Clean Science & Technology, Canara Bank, and Honeywell Automation rising over 10 percent each.
Among BSE Sensex, Reliance Industries added most in terms of marketcap followed by Tata Consultancy Services, ICICI Bank and Infosys. On the other hand, Dr Reddy's Laboratories lost most of their marketcap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
On BSE Sensex, Reliance Industries added most in terms of market cap followed by Tata Consultancy Services, ICICI Bank, and Infosys. On the other hand, Dr Reddy's Laboratories lost most. (Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
On the sectoral front, Nifty PSU Bank index rose 7.7 percent, Nifty Information Technology index added 6.3 percent, Nifty Bank rose 6 percent and Nifty Metal index gained 5.4 percent.
On the sectoral front, Nifty PSU Bank index rose 7.7 percent, Nifty Information Technology index added 6.3 percent, Nifty Bank rose six percent, and Nifty Metal index gained 5.4 percent.
In the last week, foreign institutional investors (FIIs) remained net buying most part of the week as they bought equities worth of Rs 4037.29 crore, while domestic institutional investors (DIIs) bought equities worth of Rs 940.47 crore. However, in this month till now, FIIs sold equities worth Rs 6,421.84 crore and DIIs bought equities worth of Rs 8,307.51.
In the last week, foreign institutional investors (FIIs) remained net buyers for most of the week as they bought equities worth of Rs 4,037.29 crore while domestic institutional investors (DIIs) bought shares worth of Rs 940.47 crore. However, this month so far FIIs have sold equities worth of Rs 6,421.84 crore and DIIs have bought shares worth of Rs 8,307.51.
This week, the Indian rupee fell further, crossing 80 mark for the first time and touched fresh record low of 80.06. However, INR ended flat at 79.85 per dollar on July 22 against its July 15 closing of 79.87.
This week, the Indian rupee fell further, crossing 80 mark to a dollar for the first time and touched a fresh record low of 80.06. However, the rupee ended flat at 79.85 on July 22 against its July 15 closing of 79.87.
Rakesh Patil
first published: Jul 23, 2022 08:09 am
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